ID: MRFR/ICT/0860-CR | 126 Pages | Published By Ankit Gupta on February 2020
Cloud Gaming Market Estimated to Reach at USD 22.53 Billion with 58.75% CAGR by 2030
The global Cloud Gaming Market is expected to reach $22.53 billion at a CAGR of 58.75% by 2030 . Cloud gaming is a technology that is associated with the future of the gaming industry. Cloud gaming is an important part of providing a seamless gaming experience to all the users who are presently using any device without the need for additional hardware setup. There is an increasing demand for an innovative and impressive gaming environment as well as digitalization of network, and high-speed internet which is likely to drive the market growth.
The global cloud gaming market is expected to register a CAGR of 24.6% and account for a market value of 3,806.52 million in 2023 which is the forecasted period. Looking at the cover 19 situations that have drastically impacted the market scenario. The impact involves overall revenue, value size, and share downfall. Various governmental policies that were imposed due to the pandemic situation temporarily shut down all the manufacturing units. In this way manufacturing production as well as purchasing sectors are drastically impacted. Supply chain and distribution, future impacts, and overall growth are found to show negative data. Overall the major players were also impacted as well as the upcoming market opportunities and challenges. All these factors and domains are drastically impacted due to the outbreak of coronavirus. It is believed that by the year 2022 things will get back to normal and growth will resume as it is predicted until the forecasted period.
The major factors that drive the growth of the global cloud gaming market involve demand for low latency, innovative and impressive gaming environments. Gamers also demand a seamless experience without the need for any additional hardware setup. Other factors include the emergence of 5G Technology, introduction of lowering in the technological barriers, and associated high cost. In addition to this many market players and telecom providers are trying their best to enter into partnerships and collaborations to provide a 5G cloud gaming experience to all the gamers.
Factors that boost the opportunities to grow the cloud gaming market are growing affordable internet plans all over the world as well as the investments made in 5G technology projects. Major market players are trying their best to get high-speed internet and connectivity which boosts the opportunity e for smartphones and smartphones TVs for gaming. In addition to this, the increasing advantage of smartphones is expected to show some potential boost in cloud-based gaming solutions. The factors of body unity hence are concluded as smartphones and smart TV segments which are potentially thought to show growth during the forecasted period.
Some of the factors that restrain the growth of the cloud gaming market include the need for low latency networks and high bitrates, other factors include the cost associated with obtaining an internet connection with the required bandwidth. This installation may be high and may not be available in some countries. Other problems are posed by the network, latency, and less responsiveness. It is believed that all these restraining factors may be introduced in the future when telecom providers will initiate high-speed connectivity.
The various benefits that are provided by cloud gaming technology are immense. These benefits include playing games directly over an external cloud server without even downloading the entire game. These games can be accessed using any device which directly reduces the cost of hardware setup as well as storage space available. In addition to this Google itself introduced its game streaming service called stadia which provides online streaming of games across smartphones, laptops, tablets, and others. These are some of the factors which are responsible for providing extra value to the cloud gaming market.
The global cloud gaming market is segmented based on device analysis, based on streaming type analysis, and based on end-users.
Based on The Device Analysis:
The global cloud gaming market is classified based on the device analysis into smartphones, laptops/ tablets, and personal computers, smart TV, consoles. The laptop tablets and personal computers segments are said to lead the market during the forecasted period. The reason that is driving the adoption of new innovative games is the early use of PCS and laptops for gaming and also the availability of high-end computers.
Based on The Streaming Type Analysis:
Based on the streaming type analysis the global cloud gaming market is bifurcated Pintu video streaming and file streaming.
Based on The End Users Analysis:
Based on the end-users analysis, the global market of cloud gaming is divided into casual gamers, avid gamers, and hard-core gamers.
The market of cloud gaming is divided into five regions, which are- Europe, North America, Asia Pacific, and the Middle East and Africa Latin America.
The Asia Pacific dominates the market due to the demand for gaming content from countries such as China, Japan, India, and South Korea.
North America and Europe are expected to make significant growth in the cloud gaming market shares. The early adoption of cloud Technology, high penetration of efficient internet facilities, rising opportunities from collaborations, acquisitions, and investments are driving the growth in the market of North America and Europe.
The regions of Latin America and the Middle East and Africa are estimated to show some study growth rates due to the increasing adoption of smartphones and major investments from market players in the Middle East and Africa which would boost the demand for the cloud gaming industry. All these factors are estimated to show the study growth rate in Latin America and the Middle East and Africa.
The prominent key players of the cloud gaming market in the global market are mentioned down below-
All these prominent key players play a major road in the dynamics and growth of the cloud gaming market. These major key players opt for many strategies and policies to widen their customer base. These policies and strategies mainly include collaborations, mergers, acquisitions, extensions, joint ventures, establishments, new production processes, innovations, technology widening the existing products, partnerships, etc. All these important methods are opted to get the needs of customers and develop a strong potential growth base. These major key players contribute a major amount to the sugar frequency and are very helpful in developing innovations to improve the market.
Given below are some of the recent developments seen in the cloud gaming market:
Advancements made in the digitalization of networks. Availability of high-speed internet and potential work on a 5G network.
Advancement in telecommunication and dissipation of information through social media, television, and the internet.
The global cloud gaming market is expected to register a CAGR of 24.6% and account for a market value of 3,806.52 million in 2023.
The global cloud gaming market in the global market research report consists of the following elements which are mentioned down below-
In the global cloud gaming market research report, there are major factors that drive the growth of the market. The report consists of opportunities that may further in the future and hands the global market of IP telephony. Various factors restrain the growth of sugar-free confectioneries and hamper the development of such a fine-based market. Disney search report also consists of videos analysis based on Covid 19 impact market dynamics, different segmentations, regional analysis, etc. This research report also consists of various strategies and policies followed by the major key players that drive the cloud gaming market. The future growth rate is also discussed and mentioned in this research report.
|Market Size||USD 22.53 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Deployment|
|Geographies Covered||North America, Europe, Asia-Pacific|
|Key Vendors||Sony Corporation (Japan) GameFly (US) Nvidia Corporation (US) Ubitus Inc. (US) Playkey (US) PlayGiga (Spain) Tsinghua Tongfang Co. Ltd (China) Microsoft Corporation (US) Zynga Inc. (US) Cirrascale Corporation (US) Google (US)|
|Key Market Opportunities||Major market players are trying their best to get high-speed internet and connectivity which boosts the opportunity e for smartphones and smartphones TVs for gaming.|
|Key Market Drivers||The major factors that drive the growth of the global cloud gaming market involve demand for low latency, innovative and impressive gaming environments.|
The digital makeover in the media & entertainment industry is expected to play a significant role in the development of the market.
The inaccessibility to high-speed internet is expected to create an obstruction to the growth of the global market.
Nvidia Corporation (US), Ubitus Inc. (US), Zynga, Inc. (US), Game Fly (US), Playkey (US), Tsinghua Tongfang Co., Ltd (China), PlayGiga (Spain) and Microsoft Corporation (US) are expected to exert an increased level of influence on the market.
The segments in the market are of a gaming system, type, deployment, region and end-user.
By the year 2030, the market is estimated to earn 22.53 Billion.
The North American region is expected to capitalize on the rapid growth of cloud computing to gain the top position in the market.
The forecast period is expected to span the years from 2017 to 2030.
Best Cloud Gaming Service Overall: Xbox Game Pass Ultimate